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In this tutorial, the focus is on creating a loan amortization table in Excel, specifically incorporating extra payments. A loan amortization table helps to determine monthly principal and interest payments, total amounts paid over the loan's lifetime, and more. To begin, three key pieces of information are needed: the loan amount, the interest rate, and the loan duration in years. For example, using a $150,000 loan with a 5.5% interest rate over 30 years, the first step is to calculate the monthly payment. This requires converting the annual interest rate into a monthly rate and identifying the present value and number of periods, which will be monthly in this case.